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On September 9 2003 the Canada Customs and Revenue Agency (CCRA) released Draft Information Circular 71-17R5 - Request for Competent Authority Assistance Under Canada’s Income Tax Convention (the Draft)

The Antwerp Court of First Instance has sought a preliminary ruling from the European Court of Justice about the compatibility with EU law of Belgium's capital gains tax rules. The case relates to the sale to a foreign entity of a substantial participation in a Belgian company, which is subject to a 16.5% capital gains tax.

Failure of a member state to fulfil obligations – Sixth VAT Directive – National legislation providing for a reduced rate for musical ensembles and soloists provided the latter organise the concert themselves.

Articles 5(8) and 6(5) of the Sixth VAT Directive – supply of goods or services – application of the rule to a particular type of civil-law partnership (Vorgründungsgesellschaft GbR) created for the sole purpose of setting up but not operating the business of a limited company yet to be formed and transferring that as yet non-operational business to it once formed – whether and on what basis either the partnership itself or the limited company enjoys a right to deduct input tax paid by the partnership on supplies received in the course of setting up the business.

Value added tax – Deduction of input tax – Conditions for the exercise of the right to deduct – Retroactive effect.

Clement Yuen, Partner, China Tax & Business Advisory, Ernst & Young, Hong Kong

By Loretta Shuen, Partner, China Tax & Business Advisory, Ernst & Young, Guangzhou and Shenzhen

Bill Paull and Winnie Chu, Human Capital, Ernst & Young, Hong Kong

We are delighted to have the opportunity to sponsor this China Country Guide for International Tax Review.

By Adrian Ball, Ernst & Young, Hong Kong